In The News

The US and China: Friends or Foes? – Part II

Daniel H. Rosen April 20, 2006
The US and China are the world’s two largest economies – but the citizens of the two nations differ in terms of financial habits. For example in 2005, savings accounted for at least 30 percent of Chinese household income while the US registered no savings at all. In the second of this two-part series, economist Daniel H. Rosen analyzes the implications of China’s increasing interdependence with...

Poland Averts Clash With Europe Over Italian Bank Deal

Mark Landler April 18, 2006
The Polish government has agreed to allow the Italian bank UniCredito to go forward with a deal to acquire two of Poland’s own banks. In return, UniCredito will sell nearly half of its new Polish bank branches, preserve and put out for bid a leading Polish bank brand name, and guarantee jobs for at least two years to its new Polish employees. Without these conditions, the deal would have...

The US and China: Friends or Foes? – Part I

David Shambaugh April 18, 2006
The US and China are parties to the world’s most important bilateral relationship, and this two-part series analyzes the challenges and opportunities confronting two world powers. In the first article, China scholar David Shambaugh presents a litany of issues that bedevil their relations. From President Bush’s perspective, three points of contention most likely to take center stage: First is...

Kazakhstan Entertains Grand Economic Development Plan

Melvut Katik April 17, 2006
Oil-rich Kazakhstan has a goal to become a major global economic force. Its strategy to drive growth depends on regional cooperation, particularly with Russia and to a certain degree China. Another major goal for Kazakhstan is accession to the WTO. Kazakhstan already possesses immense oil and gas resources, and global financial experts are bullish on the nation, with one analyst noting that the...

Amid Tension with US, China Faces Protectionist Surge at Home

Kathy Chen April 11, 2006
The US and Europe are not alone with citizens demanding protection of jobs, industry and a way of life. Protectionism is emerging in China, too, with various interest groups expressing wariness about increased foreign buy-outs of Chinese companies. US investments in China have increased dramatically since 1980, when only 23 firms represented $120 million in investment, whereas in 2005, 49,000...

The 7,000-Km Journey That Links Amazon Destruction to Fast Food

John Vidal April 10, 2006
Greenpeace released a report detailing the illegal destruction of large portions of the Amazon rainforest by multinational food companies and commodity traders involved in the Brazilian soya bean industry. The process begins with farmers clearing vast tracts of virgin forest for soya, destined to become animal feed, and ends with consumption of McDonald’s Chicken McNuggets throughout Europe....

Invest Globally, Stagnate Locally

Daniel Gross April 6, 2006
US and European companies continue to accumulate wealth, yet neither the overall economies nor the labor forces have joined the ride. Traditional theory once suggested that climbing corporate profits promote investment, create jobs and increase consumer demand, eventually driving up wages as well. With global markets, companies enjoy far-reaching success, maintaining control over distribution...